On December 15, 2022, the Environmental Protection Agency published a final rule recognizing ASTM E1527-21 as the new standard for performing a Phase I Environmental Site Assessment (“ESA”)....more
The United States Environmental Protection Agency ("EPA") adopted an updated standard of practice for Phase I Environmental Site Assessments on December 15, 2022. The updated standard adds more refined investigation and...more
The U.S. Environmental Protection Agency (“U.S. EPA”) has revised the standards by which real property purchasers, lessees and environmental professionals should conduct a Phase I Environmental Site Assessment (“Phase I...more
On December 15, 2022, EPA issued a final rule amending the All Appropriate Inquiries Rule (AAI Rule), 40 CFR part 312, to recognize the updated ASTM International standard for conducting Phase I environmental site assessments...more
On December 15, 2022, the United States Environmental Protection Agency (“EPA”) issued a final rule authorizing ASTM E1527-21 as compliant with the all appropriate inquiries (“AAI”) provisions of the Comprehensive...more
On December 15, 2022, the U.S. EPA took final action to amend the Standards and Practices for All Appropriate Inquiries to reference ASTM International’s E1527-21 “Standard Practice for Environmental Site Assessments: Phase I...more
The U.S. Environmental Protection Agency (EPA) is in the process of rulemaking to adopt a new national standard for Phase I environmental site assessments. While the EPA had hoped to adopt the new Phase I standard more...more
For many years, it has been standard practice for prospective purchasers and even tenants to conduct a Phase I Environmental Site Assessment (“ESA”) before acquiring a new property interest. This is for two important reasons:...more
As covered in my previous post, the ASTM International (ASTM) released a revised standard for conducting Phase I Environmental Site Assessments (Phase I ESAs) – ASTM E1527-21. While the E1527-21 standard has been available...more
The U.S. Environmental Protection Agency, on March 14, 2022, issued both a final rule incorporating revised ASTM International standard practices, ASTM International’s E1527–21 ‘‘Standard Practice for Environmental Site...more
ASTM announced revisions to its standard practice for Phase I environmental site assessments (E1527-21) on November 1, 2021 (the “Standard”). They will take effect on January 1, 2022, with publication and adoption by the U.S....more
On Nov 1, 2021, ASTM International (“ASTM”) released the revised standard for conducting Phase I Environmental Site Assessments (“Phase I ESAs”). The new standard, ASTM 1527-21, which revises the 1527-13, is intended to...more
On November 1, the American Society for Testing and Material’s (ASTM) released a revised standard for conducting Phase I Environmental Site Assessments (Phase I ESAs). ...more
After a lengthy committee process, ASTM International revised its standard practice for Phase I environmental site assessments (ASTM E1527) for the first time since 2013. Phase I environmental site assessments facilitate...more
Given the current demand for downtown properties, borrowers are acquiring contaminated properties like never before. Against this backdrop, lenders should become familiar with the basics of environmental laws imposing...more
EPA recently issued a guidance document (the “Guidance”) that supersedes and clarifies its 2003 guidance on what prospective purchasers of real estate must do to qualify for one of CERCLA’s three landowner liability...more
I undertook a presentation at the Arkansas Bankers Association Mega Conference titled: Managing Arkansas Environmental Issues in the Lending/Foreclosure Process ...more
When parties to an M&A deal consider most environmental risks, they essentially seek the same goals that they seek with respect to other liabilities in the deal. M&A sellers, particularly private equity sellers, seek to avoid...more
When facing the potential of spending large sums of money on remediation, administrative enforcement, or litigation due to a chemical release to the environment, you must be able to take the collected information and data and...more
In December 30, 2013, the EPA approved the use of a new ASTM Phase I environmental site assessment standard, E1527-13 (“2013 Standard”), in order to satisfy the CERCLA “all appropriate inquires” rule and qualify for certain...more